Credit cards have become a great way to ease people’s needs. Using them, people can pay online, withdraw money from the nearest ATM, travel worry-free, build credit, get reward points, etc.
Despite all these benefits and more, however, it’s gotten increasingly difficult to get a credit card approved recently; same as with any type of credit, you need to go through a tedious application process with the bank. And all you want is to speed up the process, especially if you’re in a cash emergency.
What if there was a way to avoid this process entirely? It’s simple – pick one of the excellent cards on our list. These types of cards offer you a fast and safe way to get credit, even with an awful credit score. This is why we chose to make a list of the 5 best credit cards on the market currently.
The Best Credit Cards Of 2022:
- Indigo Mastercard – Overall Best Credit Cards Online, Editor’s Pick
- Milestone Gold Mastercard – Most Trusted Platform Offering Credit Cards For Fair Credit Instant Approval
- Destiny Mastercard – Unsecured Credit Card Option For People With Good Credit Score
- First Access Classic Visa Credit Card – Premium Credit Cards To Build Credit With No Deposit
- FIT Mastercard – Best Pre approval Credit Card Portal To Boost Credit Score
#1. Indigo Mastercard – Overall Best Credit Cards Online, Editor’s Pick
The Indigo Platinum Mastercard is issued by a Utah-Chartered Industrial Bank – Celtic Bank. Whereas, it is serviced by Genesis FS Card Services, Inc.
This card is for people with both good and bad credit. The annual fee ranges from $0 to $99 depending on how good your credit score is. The bank doesn’t list any credit requirements for approval, but it confirms that it’s for those with “less than perfect credit”. So while not everyone can qualify, you can expect that your chances of approval might be better compared with other cards.
Additionally, this card offers a prequalification process, so you can have your eligibility assessed without any hard pulls on your credit, lowering the risk of ruining your credit score. And if you have a good credit score then you can pay very low fees, maybe even the lowest on the list. For people who are only focused on bettering their credit scores, this card gives you the option to add funds to it so that you can keep your credit utilization ratio high, which can be extremely useful for bumping up your score. Additional bonuses and multiple design options are offered completely free of charge.
Highlights
Great cash advance bonus
The Indigo Platinum Mastercard comes with a $0 cash advance fee for the first year of using it. This introductory fee is great if you need to take money out at an ATM, and if you prefer to get cash advances using your credit card. Even after that, the fee is about $5 which is not that high compared to other cards of this type.
No payment annual fee
For those who qualify there is a $0 annual fee available, which is one of the most unique aspects of this card. If your credit score is around 850 then there are no annual fees for this card; you only need to pay back the sum you take out. This makes it a fantastic option for people with excellent credit scores that just need a fast cash injection for some kind of emergency.
Low foreign transaction fees
The Indigo Platinum Mastercard charges only 1% in foreign transaction fees, making it an ideal choice for those who love to travel. While most cards offer this option only for the first year of usage and then bump up the fees to 3%, the Indigo Mastercard keeps this low transaction fee forever.
Additional highlights
- No security deposit is required at all, letting you save on money
- Qualify with no impact on your score
- Great unique card designs for free
- Use your credit card online, in-store, or in-app wherever you see that Mastercard is accepted
- Build your credit history safely and quickly
- Don’t worry about unauthorized charges with their 0% liability policy
- Great credit injection for your everyday needs
Pros
- A $0 annual fee for those with good credit scores
- Free extra card designs
- No deposit necessary
- 1% foreign transaction fee, lower than other cards in this category
- Makes a monthly report to all three major credit agencies
Cons
- No rewards
⇒ Visit the Official Website of Indigo
#2. Milestone Gold Mastercard – Most Trusted Platform Offering Credit Cards For Fair Credit Instant Approval
Milestone Mastercard is issued by The Bank of Missouri and serviced by Genesis FS Card Services, Inc. This bank is very well established and has a long history dating back to 1891.
According to theislandnow, Milestone Mastercard is a great option for people with a bad credit score. It is a prime example of a great product for people looking for credit while having a bad FICO score. The Milestone Gold Mastercard offers a very good deal for anyone that wants to get it. With great low rates and fair fees, you can get a fantastic option for easy-to-use credit.
Users might want to pay attention to annual fees because, as mentioned, this card is available to those with bad credit scores too. If you apply for this card and your score is on the lower spectrum, you should be prepared to pay higher monthly fees.
Annual fees range from $35 to $99. Another great aspect is the many versions available, letting you choose a perfectly ideal choice. You can pick the card you need by going through their great pre-qualification process. And you can be sure that you are going to get credit when applying with them. If you don’t qualify, the bank can pre-qualify you with other banks, and you might get an offer from them.
Highlights
Requires no security deposit
Traditional credit cards are largely unavailable to people with poor credit or no credit history, so these customers only have the option of secured cards, which require a security deposit that serves as the limit of the card. The Milestone Gold Mastercard skips the need for a security deposit, and instead, you get a revolving line of credit with an annual fee.
Security features
Milestone Mastercard offers great security features. With this card, you’re eligible for special theft protection, which comprehensively monitors your Social Security Number, contact email, and card accounts. If your identity is stolen, identity-theft specialists are available to help you if your identity is stolen 24 hours a day. In addition, there is a great Zero Liability guarantee, which means that cardholders are in no way responsible for fraudulent purchases made with their card.
Additional highlights
- Mastercard designed especially for you
- Build on your credit history with great improvements through Milestone Mastercard
- Quick and simple pre-qualification that doesn’t impact your credit score in any way
- Access to credit whenever you need it
- You can get a Mastercard online, in-store, or in their app
- Milestone card reports to all three credit bureaus
Pros
- Provides credit to those with low or damaged credit history
- Zero liability protection and identity monitoring
- Fair annual fee
Cons
- No rewards
⇒ Visit the Official Website of Milestone
#3. Destiny Mastercard – Unsecured Credit Card Option For People With Good Credit Score
Destiny Mastercard is a credit card issued by First Electronic Bank. The card is serviced by Genesis FS Card Services, Inc.
The Destiny Mastercard issuer is a great place for first-time credit card users to start. This card is not a secured credit card, meaning that it doesn’t require any kind of deposit. However, it does have higher annual fees, ranging from $59 to $99. This card is also great for beginners because it doesn’t have the option for big credit increases, so you can get a nice safe amount. Moreover, it is good for people who want to repair their credit score faster, letting them repay the money quickly, and it’s good for first-time users since you can’t get in over your head.
On top of this, they offer great rewards and benefits, with a good APR. Making it one of the best credit cards for credit building. This is especially true since Destiny Mastercard reports to all three major credit bureaus.
The Destiny Mastercard provides credit tips and a dedicated credit education page on our website to support you along the way. The application for this card is also very simple and easy. You can even fill out an online pre-approval letting you know if your application is likely to be successful, so you can know if it’s worth risking a hard credit pull later on.
Highlights
Grace period
The Destiny Mastercard credit card offers a very convenient grace period of 25 days, beginning on the first day of the new billing cycle. This grace period can allow you some time to pay your bills in full without getting overwhelmed with any interest charges.
Cash advances
Cash advances are when you use your credit card to withdraw money using an ATM. These advances are allowed on the Destiny Mastercard credit card. A great feature is that in your first year of use there are no cash advance transaction fees, which is very rare, and then after that period, fees are either $5 or 5% of the amount, whichever is greater (not exceeding $100).
Foreign transactions
Not all credit cards allow foreign transactions, so it’s a good thing that the Destiny Mastercard does. When using your Destiny Mastercard abroad for transactions, you will be charged a transaction fee that is equivalent to 1% of the transaction. To compare, most cards usually charge about 3% foreign transaction fees.
Additional highlights
- Zero fraud liability – the card issuer won’t hold you responsible for unauthorized transactions
- ID theft protection – credit report monitoring and dark web monitoring to check-in misuse
- 24 hours assistance if your card is lost or stolen, with an emergency phone provided
- Discounted airport concierge services
Pros
- Foreign transactions and cash advances are available
- No cash advance fees in the first year
- No security deposit required
- Credit reporting to all three bureaus
Cons
- High APR
- No welcome bonus
⇒ Visit the Official Website of Destiny
#4. First Access Classic Visa Credit Card – Premium Credit Cards To Build Credit With No Deposit
The First Access Classic Visa credit card is issued by The Bank of Missouri. It has a pursuant license from Visa U.S.A. Inc.
This card is one of the best credit cards for people looking to fix up their credit scores. If you’ve ever made any big credit mistakes in the past, this card can give you enough space to rebuild your credit scores. The company does a credit check, but it’s easy to be approved even with a bad credit score.
Additionally, it’s one of the few cards for bad credit that offers a great first-year welcome offer. After the first-year offer finishes you’ll need to pay $10 to $99 fees annually. You can find each specific fee’s amount separately on the official website.
In some cases, it can be great for people with good scores too. Since it isn’t a secured credit card, applicants can get it without putting down any type of deposit. This is great for someone that doesn’t want to put in a large sum deposit that’s equivalent to the credit limit. Most credit cards are unsecured credit cards. And in case you have a good credit history then the fees will be much smaller, making it a great option for a fast line of credit that you can easily pay off.
Highlights
Welcome offer
One of the greatest bonuses that the First Access Visa card offers users is the great introductory APRs. This card charges no monthly or cash advances for the first year of ownership. This is a great relief for people who don’t have enough funds with First Access going as far as waiving the monthly service fees.
Supplementary cards
A unique offer that the First Access Classic Visa credit card has is the option to take out an additional card for a spouse or partner. You’ll be charged an extra annual fee, but your credit limit will double and both cards will have access to that same limit. This is a very convenient way of sharing funds with family members or someone close.
Wide card acceptance across the U.S.
Since the First Access Classic Visa card is a Visa credit card there are no problems with using it anywhere across the United States. It doesn’t matter if you’re taking out a cash credit at an ATM or are buying something from a store, all banks, and shops across the country work with this card, so you won’t have any problems doing your shopping anywhere you go. Even online shops based in the U.S. work with this card. Unfortunately, though, you can’t make purchases abroad with this card.
Additional highlights
- After two years of use, you can get a credit limit increase for free
- Reports monthly to all three major credit reporting agencies
- Perfect credit is not required for approval
- Optional Expedited Processing available to get your card faster
- You will know if you have it within 60 seconds of filling out the online application
Pros
- $300 credit limit
- Cash advance and monthly servicing have no fee in the first year
- Easy and secure online application
- Select your card design for free
- Online customer service is available 24/7
Cons
- Can’t be used abroad
High APR rates
⇒ Visit the Official Website of First Access
#5. FIT Mastercard – Best Pre approval Credit Card Portal To Boost Credit Score
The FIT MasterCard is issued by the Bank of Missouri and is serviced by Continental Finance. Continental Finance is a brand with a long history that offers several credit cards with great terms.
The FIT Mastercard is a great quality credit card that you can use anywhere that Mastercard is accepted. Unlike other cards that are offered to people with bad credit, it doesn’t function as a store card or a line of credit in disguise.
If you have bad credit or no credit history at all, then it could be a challenge to get approval for a credit card. So how do you get out of this catch-22 situation? A credit card is a great tool for boosting your credit score. This is where the FIT Mastercard comes in.
Made for people with bad credit, this credit card doesn’t require a credit check to get approved. Cardholders can also receive a credit limit as high as $400, with the ability to double it to $800, having one of the larger limits when compared to similar cards. Though unfortunately there is a large fee of $89 to process your card, with an annual fee of $99 too, so be prepared to pay extra.
Highlights
Easy to qualify
The FIT Mastercard doesn’t require any type of credit check to be done, and there is no minimum credit score required to qualify for a card. This makes it the best credit card for repairing your credit score. And without any checks necessary you don’t run the risk of ruining your score even more, since getting this card doesn’t require either a soft pull or a hard pull.
Potential for higher credit limit after only six months
After a six-month period passes, Continental Finance will review your account. And if in that period you’ve made all of your payments on time then they will offer an increase in your credit limit. This increase ranges from $400 to $800.
Free access to credit score
Continental Finance has a unique service offered through its partnership with one of the three main credit bureaus. Once a month cardholders can access their TransUnion Vantage 3.0 credit score. This allows you to follow in real-time the amount of points you gain while using the FIT Mastercard.
Additional highlights
- Reports are sent to all three main credit bureaus
- The online account can be accessed through a computer or on the app
- Many options for paying your fee (monthly, yearly, etc.)
Pros
- Low eligibility requirements
- Great line of credit
- Zero fraud liability
- Excellent online management
- Fair fees
Cons
- Higher foreign transaction fees
⇒ Visit the Official Website of FIT
How We Made This List While Selecting the Best Credit Cards For Bad Credit?
A credit card can be an extremely useful item because of many reasons. It’s easy to keep on hand whenever you run out of money, and it can be a great way to improve your credit score by a few points. The companies on our list offer some of the best credit cards for people with either good or bad credit scores.
You can expect great APRs, low fees, and a good credit limit that’s easy to pay back if you have a good score. And if you have a bad credit score, then these cards are a great alternative to traditional lines of credit, with the added benefit of giving your score a much-needed boost. To ensure that you get the best product possible, we looked at what we considered the most important points of every brand.
- Reputation
No matter the product we buy, we always strive to get it from a safe and honest company. This is doubly true for companies that offer products that can seriously influence our finances. Because of this, all of these cards need to be provided by banks with a long history, a good reputation among their users, and an additional service company.
The cards we chose for this list all had established and safe banks that gave them out, banks that fall under the laws of the United States, so you can rest easy knowing that they are not scams.
- Fees and APRs
Fees are an expected part of any form of credit. But still, the whole point of getting your loan is to get money, not lose it. This is why we focused on brands that offered lower transaction fees. It was important for them to have low cash transaction fees, allowing you to get fast access to your cash at any ATM as quickly as possible. And of course, a great bonus is the low foreign transaction fees, so now you can travel carefree knowing you have some extra cash whenever you need it, with fees as low as 1%.
Another great thing that these brands offer is payment plans. Letting you choose and customize when you want to pay your APRs (monthly, annually, etc.). This can be useful if you’re in a bad financial situation, allowing you to gather up necessary funds. And on the other hand, you can use a monthly plan to pay back your loan and boost your credit score quickly.
- Effects on credit score
These cards are great for three types of users: people with awful credit scores and no other option for getting a loan, those who have excellent scores and want a fast line of credit with very low fees, and those who only want to boost their FICO score. In any case, these cards’ effects on your credit score are very significant.
Most of the companies offering these types of cards have monthly reports to all three major credit agencies in the United States. These reports are one of the perks of using these cards, meaning you get a detailed report on how you pay back your bad credit loan to these agencies, free of charge. And this can greatly improve your credit history. If you’re approved for a secured card, you’ll be required to put down a refundable security deposit to act as collateral
Naturally, this policy can be considered a double-edged sword since any late fees and bad practices go on your permanent record. But also, getting your history checked and being denied a loan can damage your score severely. This is why all of the companies on our list have the option to fill out a prequalification online. This lets them see if you meet their requirements without officially doing a soft or hard credit check (or pull) on your history. Doing this eliminates the risk of damaging your credit score even before you get a loan.
Users Guide: Best Credit Cards To Build Credit
By picking any of the cards on our list you can be sure that you will pick a great source of fast and easy credit, combined with an excellent way to boost your credit score. But if you choose to choose for yourself then keep in mind all of the pitfalls and risks that exist with getting one of these types of cards. To make sure you’re choosing a safe choice then please follow our simple user guide on finding the best card for you.
- Eligibility requirements
Since the whole point of these cards is for them to be a good source of credit for people with bad FICO scores, their requirements must be minimal. The companies offering these credit cards should expect clients with low credit scores, or almost nonexistent credit histories. The application process should be simple and easy and require only a minimal amount of information.
- Unsecured cards
Secured cards are credit cards that you can get only by giving some kind of collateral beforehand. This can be something like the credit limit of the card itself, making you give a cash payment before you even receive your card.
Since these cards are generally aimed at users with bad financial situations it’s not ideal to ask them for money before they even get their card. This is why all of the credit cards on our list are unsecured, meaning there is no down payment necessary for getting them. When looking for a card make sure it is unsecured.
- User reviews
Getting an idea about how good credit cards are before you even use them is pretty hard. Sure most of the information about the functions of the card is available on the company website, but there might be some details in the fine print that are easy to overlook.
Because of this, our advice is to always look for reviews about the cards online. Finding mixed reviews and going through them can give you a good idea about how the card actually functions, and you might find some perk that’s great for you but isn’t advertised.
A good site that offers transparent reviews is Trustpilot, so start there. Keep in mind though, that some of the users leaving reviews can be people that are not very good at managing their credit spending. So read the reviews carefully in case they are just disgruntled users that make poor financial choices and don’t just look at the star ratings.
- Bonuses and rewards
Bonuses and rewards are important things that these companies need to offer to stay relevant in today’s market. All of the companies offering these types of credit cards usually offer some kinds of bonuses and rewards for signing up with them. This could be something like no cash transaction rates for the first year or two, no foreign use rates, free credit limit increases, gifts, etc.
So always be on the lookout for the bonuses that you can get, since some of them can save you huge amounts of money on fees and APRs.
- Customer service and liability
Managing your credit can be an incredibly frustrating thing. For that reason when getting your credit card you should make sure that the brand you are getting it from has helpful and available customer service that’s easy to contact. The brands we reviewed all offer 24/7, 7 days a week customer service that is extremely helpful, and easy to contact using a phone number.
Additionally, in the case of your card getting stolen or being somehow abused, customer service should be readily available to block it as quickly as possible to prevent any financial damage that could be done to you personally. And the card you choose should have a 0% liability policy, meaning that any unauthorized spending isn’t blamed on you, so you won’t have to pay rates or fees for that spending.
- Reporting monthly to all three major credit agencies
Usually when you take out a loan or credit card, one of three major credit agencies makes an investigation annually about the way you repaid that loan. If you paid your fees on time, if you paid larger APRs than those required from you, and if you kept a good debt-to-credit ratio – all these are included. Based on this they will give you your FICO score, or what’s commonly referred to as a credit score, which ranges from 300 at the lowest and 850 at the highest.
Unfortunately, the way this system works can lead to some important details of your credit history being overlooked, and this can lead to needlessly losing points. And of course, you have the freedom to request reviews yourself, but this can be a tedious process. One of the best credit card options that these brands offer is monthly reports to these agencies.
The companies on our list don’t only send reports to one of these agencies, but all three, making sure that you get the most in-detail review of your credit history. And the fact that these reports are sent every month makes all of the information easy to review, so even the smallest details aren’t missed. So if you need a good credit boost make sure that the company you’re connected with has this function available.
FAQs On Credit Cards
We hope we covered as much ground as possible, and that you have found the information you were looking for by reading through our article. But just in case you have unanswered questions left, please look carefully through our FAQs in the hopes of answering them.
Q1. Who issues these cards?
These cards are usually issued by some bank or similar financial institution. These institutions should be FDIC-insured and based in the country you live in. The banks need to be in the same country as you so that you know they fall under the same laws, and you don’t have any tax problems.
Q2. What are the base requirements for applying for these types of cards?
Almost anyone interested in establishing or building credit can apply for these credit cards. Some of the most common base requirements that we came across when looking through these companies were:
- You must be at least 18 years of age
- You must have a valid social security number (SSN)
- You must have a physical address associated with your name
- You must have a US IP address
Some additional requirements we’ve seen on occasion are that you can’t have a history of violation or abuse with any credit card companies similar to these, and you might need to provide a review of your income and debt.
Q3. Why should I apply for one of these cards?
There are multiple reasons why you should apply for one of these cards. Mainly they are a great way to repair your credit score and add some type of credit history if you have none. So if you plan to take out a larger loan in the future, a great first step is to use one of these cards to get a great FICO score, allowing you to get better terms.
Additionally, it’s a great way to get some cash fast and easy if you already have a good score, with them being very easy to pay back too, even having 0% annual rates in some cases.
Q4. What is a pre-qualification, and why do I need to fill it out?
You don’t need to fill out a pre-qualification form to get your credit card. This is simply a great tool that these companies offer you so that you don’t get your credit score damaged. Usually, to get a credit card approved, banks need to do a soft or hard check on your credit history, this means reviewing it, and checking your FICO score.
Sometimes soft checks are safer since they only check basic information and don’t show up on the credit agencies’ radar. But getting refused a loan after a hard check goes on your permanent credit history, knocking your score down a good amount of points. So to avoid ruining your score these companies offer the option to do a pre-qualification, where you fill in all the necessary information, and they tell you if you can get a card or not. This way if you are denied, it doesn’t get reported to any credit agency, and it stays off your credit history.
Q5. Can I apply over the telephone?
At this time, these companies don’t offer the option to apply through your telephone. The best thing to do is to follow the instructions of their online applications in detail. Most of the time, they are simple and easy to fill out. But if you feel yourself getting overwhelmed or confused, these companies offer a customer assistance hotline that can guide you through the application process.
Q6. When do I get my card?
In most cases, we noticed that companies advertise that they deliver their cards within 14 business days of being approved. But keep in mind that we can’t be sure how long exactly each company takes. We do know, however, that most companies keep this type of information on their site. So if you want to be sure when you’ll get your card exactly, take a good look at their website, and you’re sure to find that information. Moreover, once you sign up for e-statement credit, you can be granted benefits from a free credit score service.
And for anyone that is in a hurry, some companies offer the option of expedited shipping, meaning that you can have your card in a couple of business days. However, remember that these services usually cost a fee.
Q7. What if I don’t receive my card?
If you don’t receive your card within the timeframe that you should, immediately contact the card provider’s Lost and Stolen Department. The contact number should be available on their website, and they should be available for call 24/7. And if the company has a 0% liability clause, then you shouldn’t worry about paying any fees for a lost or stolen card.
Q8. Why was my credit card declined when I tried to make a foreign transaction?
A very common policy that almost all of these companies have is a security policy for making transactions with your credit card outside of the U.S. Usually when you want to use your card in another country, you need to notify the card provider beforehand. You can do this either by giving them a call or setting a travel alert. This can easily come as an inconvenience, but companies have remedied this by letting you send out notifications using their websites or convenient phone apps.
Q9. Can I manage my card online?
Definitely yes. All companies let you review your credit status and information online with ease by providing easy-to-use online platforms or apps.
Conclusion: Get Instant Approval Credit Cards For Bad Credit
To conclude, these cards are a great way to achieve many things. From simple things like getting some extra money to spend to something more complicated like increasing your credit score. The easy and simple application process and the speed at which you get and pay off your card make it ideal for these situations, well for any situation.
Their great liability policies make sure that you are protected from any monetary scams or tricks. Moreover, with the function to send reports on your payments directly to the three major credit agencies in the country, you can be sure that your FICO score will get the boost it needs.
These cards are a great product to implement for getting in a better financial situation, with great customer support, functionality, and bonuses. If you want to get the most out of your choice of cards, then be sure to choose from our list of the best credit cards available. And if you ever feel confused or overwhelmed remember to follow our handy user guide.
